Cash Flow Statements || Preparation of Financial Statements || Bcis Notes
Cash Flow Statements Cash flow statement is a financial statement that provides aggregate data regarding all cash inflows a company receives from its ongoing operations […]
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Use of Computers in Preparation of Income Statement and Balance Sheet || Preparation of Financial Statements || Bcis Notes
Use of Computers in Preparation of Income Statement and Balance Sheet The use of computers helps accountants store and access financial records, make changes and […]
Preparation of balance sheet under vertical- classified format || Preparation of Financial Statements || Bcis Notes
Preparation of balance sheet under vertical- classified format A vertical balance sheet is one in which the balance sheet presentation format is a single column […]
Assets, liabilities and shareholders’ equity || Preparation of Financial Statements || Bcis Notes
Assets Within the assets segment, accounts are listed from top to bottom in order of their liquidity – that is, the ease with which they […]
Balance Sheet || Preparation of Financial Statements || Bcis Notes
Balance Sheet A balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholders’ equity at a specific point in time, and […]
Statement of retained || Preparation of financial statements || Bcis Notes
Statement of retained The statement of retained earnings (retained earnings statement) is a financial statement that outlines the changes in retained earnings for a company […]
Revenues || Preparation of Financial Statements || Bcis Notes
Revenues Revenues are the income generated from normal business operations and include discounts and deductions for returned merchandise. It is the top line or gross […]
Income Statement || Preparation of Financial Statements || Bcis Notes
Income Statement An income statement is a financial statement that shows you the company’s income and expenditures. It also shows whether a company is making […]
Completion of the accounting cycle || Accrual Accounting and Adjustments || Bcis Notes
Completion of the accounting cycle The person maintaining the accounting cycle defines it as a systematic process of recognizing, analyzing, and posting the various events […]
Post-closing trial balance || Accrual Accounting and Adjustments || Bcis Notes
Post-closing trial balance The last step in the accounting cycle is to prepare a post-closing trial balance. A post-closing trial balance is prepared after closing […]